Karen Karapetian, a top executive at the Russian gas giant Gazprom, has become Armenia's new prime minister.

Armenia's presidential press service said on September 13 that President Serzh Sarkisian had signed a decree appointing Karapetian.

Karapetian, 53, served as the mayor of Yerevan from 2010-11. After leaving the post of mayor, he moved to Moscow, to be appointed as the first vice president of Gazprombank. He then became deputy CEO of Russian gas producer Gazprom's Mezhregiongaz unit.

In 2015, Karapetian became a deputy director-general of another Gazprom subsidiary -- Gazprom Energoholding.

Former Prime Minister Hovik Abrahamian resigned on September 8, citing his government’s failure to address challenges facing the country.